Hut 8 (TSE:HUT) Stock Price Down 4.6%

Hut 8 Corp. (TSE:HUT)’s share price traded down 4.6% during trading on Tuesday . The stock traded as low as C$15.54 and last traded at C$15.57. 49,676 shares changed hands during trading, a decline of 96% from the average session volume of 1,392,273 shares. The stock had previously closed at C$16.32.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the company. Craig Hallum raised Hut 8 from a “hold” rating to a “strong-buy” rating in a research report on Thursday, May 16th. HC Wainwright upgraded shares of Hut 8 from a “strong sell” rating to a “strong-buy” rating in a research report on Wednesday, August 14th.

Hut 8 Trading Down 6.6 %

The stock has a fifty day simple moving average of C$19.87 and a 200 day simple moving average of C$14.87. The firm has a market capitalization of C$1.39 billion, a P/E ratio of -14.27 and a beta of 3.45. The company has a quick ratio of 1.26, a current ratio of 1.67 and a debt-to-equity ratio of 55.19.

Hut 8 Company Profile

Hut 8 Corp., together with its subsidiaries, acquires, builds, manages, and operates data centers for digital assets mining, computing, and artificial intelligence in the United States. It operates in four segments: Digital Assets Mining, Managed Services, High Performance Computing Colocation and Cloud, and Other.